Question: It might be difficult to find a knowledgeable sales clerk because consumers could just get the information from him / her and buy the same
It might be difficult to find a knowledgeable sales clerk because consumers could just get the information from himher and buy the same product somewhere else often online cheaper. Since the retailers wouldn't get paid for giving out the information ie training their salesclerks the amount of information is underproduced.
This occurs because information is:
Group of answer choices
moral hazard
adverse selection
asymmetric
a public good
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
